Guideline Value for Vishaal Nagar Extn

Vishaal Nagar Extn guideline value

The current guideline value of Vishaal Nagar Extn is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - I.

How the guideline value of Vishaal Nagar Extn has changed

The guideline value for Vishaal Nagar Extn has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the 2023 revision, which was Rs 2,000 per sq.ft. The register has no figure for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Prior to 2023, there are no available figures for Vishaal Nagar Extn in the register. The changes from 2023 to 2024 indicate a significant adjustment in the guideline value, aligning with the overall trends in the area.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO with a 2024 guideline value range from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Vishaal Nagar Extn's 2024 figure below this median.

• Vishaal Nagar: Rs 2,200 per sq.ft (2024)
• Vijay Avenue: Rs 2,200 per sq.ft (2024)
• Vijaya Nagar Ponniamman Koil Street: Rs 2,200 per sq.ft (2024)
• Vignesh Avenue, Ramurthy Nagar: Rs 2,750 per sq.ft (2024)
• Vidhyasurabi School Street: Rs 2,200 per sq.ft (2024)
• Vidhya Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Vishaal Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 22,00,000, the stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vishaal Nagar Extn?

The Sub Registrar Office that covers Vishaal Nagar Extn is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in the registration process for property transactions in Madipakkam-1. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the current guideline value, as it can impact the overall cost of the transaction. Buyers should ensure that they are informed of the guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Vishaal Nagar Extn?

The current guideline value of Vishaal Nagar Extn is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What is the registration office for Vishaal Nagar Extn?

The registration office for Vishaal Nagar Extn is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Vishaal Nagar Extn?

Stamp duty is calculated on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, with Vishaal Nagar Extn's value being below this median at Rs 2,200 per sq.ft.